At this pace Guyana will not see one single penny until 2030.

Look at the PNC slop boy trying to deflect.  Listen Slop Boy, your AFC/PNC friends are a bunch of clowns.

yuji22 posted:

At this pace Guyana will not see one single penny until 2030.

Maybe. It might take a whole generation for Guyana to realize any benefits from oil. Wait a minute. I am thinking of the hiding of the $18 mil(USD). Maybe somebody knew something then.

Yes, at this pace, it will take two generations to receive a few pennies after these clueless clowns destroy Guyana.

Remember, they have not built a toilet as yet.

As for the PPP airport project, they reduced size of the project by 50 Percent and increased the cost by an additional 50 percent. This is your typical PNC style of governing. A bunch of thief men.

They cannot even run a cake shop, how can they run a country ?

yuji22 posted:

Look at the PNC slop boy trying to deflect.  Listen Slop Boy, your AFC/PNC friends are a bunch of clowns.

Oww try again,does the labeling make you feel macho ??

poor weakling.

Slop, Slop, Slop goes Django's can.

yuji22 posted:

Slop, Slop, Slop goes Django's can.

Oww.... weakling..shed the infantile traits.

Ok, guys no football today. Let's start this Django and Yuji comedy show.

Dem bais seh they have road sense...hehehe. 

Labba posted:

Dem bais seh they have road sense...hehehe. 

You mean dey tekkin their show on de road?

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Well ah tell yuh....Burnham name got to be invoked.

Have you noticed what period the supposed bill was incurred.

Django posted:

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Well ah tell yuh....Burnham name got to be invoked.

Have you noticed what period the supposed bill was incurred.

Apologies I didn't mean to invoke you.  The $460,237,918 million was signed by Trotman in the 2016 Production Sharing Agreement (PSA), in Annex C of the contract.   I'm sure you have read that contract many many times.

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

PNC comedy continues.

Not one drop of oil but the PNC owes Exxon 1/2 Billion USD already. Lord have mercy.

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

I’m sure that’s predicated on them extracting oil. If oil was never found, nothing would be owed. It’s Exxon cost Recovery model.  

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Well ah tell yuh....Burnham name got to be invoked.

Have you noticed what period the supposed bill was incurred.

Apologies I didn't mean to invoke you.  The $460,237,918 million was signed by Trotman in the 2016 Production Sharing Agreement (PSA), in Annex C of the contract.   I'm sure you have read that contract many many times.

"The PSA said that this sum shall be “included” in the pre-contract cost.  The PSA states that the pre-contract cost “shall include four hundred and sixty million, two hundred and thirty seven hundred thousand and nine hundred and eighteen United States Dollars (USS 460,237,918) in respect of all such costs incurred under the 1999 Petroleum Agreement prior to the year ended 2015,

“and (2) such cost as incurred under the 1999 Petroleum between January 1, 2016 and effective date which shall be provided to the Minister on or before October 3, 2016 and such number agreed on or before April 30, 2017. For purposes of this paragraph, the term pre-contract cost includes contract costs, exploration costs, operating costs, service costs, and general and administrative costs and annual overhead charge as those terms are defined in the 1999 Petroleum agreement.”

According to ExxonMobil’s website, even though the agreement was signed since 1999, the company only initiated oil and gas exploration activities in Guyana in 2008, collecting and evaluating substantial 3-D seismic data that led to the company safely drilling its first exploration well in 2015."

Here you go try to comprehend what is written above.

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Well ah tell yuh....Burnham name got to be invoked.

Have you noticed what period the supposed bill was incurred.

Apologies I didn't mean to invoke you.  The $460,237,918 million was signed by Trotman in the 2016 Production Sharing Agreement (PSA), in Annex C of the contract.   I'm sure you have read that contract many many times.

Don't ask him suh hard question. He has to get instructions as to the answers.

The PNC government in the Hole before Oil come out from the Hole!!

kp posted:

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Well ah tell yuh....Burnham name got to be invoked.

Have you noticed what period the supposed bill was incurred.

Apologies I didn't mean to invoke you.  The $460,237,918 million was signed by Trotman in the 2016 Production Sharing Agreement (PSA), in Annex C of the contract.   I'm sure you have read that contract many many times.

Don't ask him suh hard question. He has to get instructions as to the answers.

Well ah tell yuh,

did you read the post made in reply,think before hitting the send button.

Django are you saying the PNC has so much faith in the PPP that they accept blindly and Trotman signed the contract but included bonus. Look at the Trump, got in office and terminated everything Obama had in place. or if not renegotiate all contracts.

When the PNC was in opposition they criticized the PPP and promised Change, they are so ill prepared, what they criticized they now fully Accepted. A bunch of dunces and dunce followers.

AFC/PNC complain like antimen all day long. They cannot even run a cake shop, how can they run a country ?

"Precontract costs means costs incurred before the effective date of the contract directly pursuant to the negotiation and in anticipation of the contract award when such incurrence is necessary to comply with the proposed contract delivery schedule. These costs are allowable to the extent that they would have been allowable if incurred after the date of the contract"

https://www.law.cornell.edu/cfr/text/48/31.205-32

OK boss read the above and check out the link.

Thanks to the modern world we live in,info are at hand any one who can read and comprehend will increase their brain power.

Don't follow blindly.

You are giving me a definition of Precontract cost.

Trotman renegotiated a new contract to include Bribe/bonuses.

kp posted:

You are giving me a definition of Precontract cost.

Trotman renegotiated a new contract to include Bribe/bonuses.

Oh skites,

read the the whole article on the contract,you will get the gist about the $$ incurred.

Is it not the subject of discussion ?

"The PSA signed by Trotman also ensures that Guyana stands the cost of even the interest added to loans taken by ExxonMobil for the purpose of the operation."

With the constant decline of the Guyana dollar and the uncertainty in the fluctuations in interest rates who knows how much they will end up paying.  And what other costs are there that we have not heard about??

alena06 posted:

"The PSA signed by Trotman also ensures that Guyana stands the cost of even the interest added to loans taken by ExxonMobil for the purpose of the operation."

With the constant decline of the Guyana dollar and the uncertainty in the fluctuations in interest rates who knows how much they will end up paying.  And what other costs are there that we have not heard about??

Suh the G$$ will decline when the black gold flows??

There wouldn't have been any bitching,if the PPP were in control,nah suh.

Django posted:

kp posted:

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

So the govt owe Exxon $US 460 million and not one drop of oil to show for it?  Burnham is turning out to be the best PNC leader by far.   

Well ah tell yuh....Burnham name got to be invoked.

Have you noticed what period the supposed bill was incurred.

Apologies I didn't mean to invoke you.  The $460,237,918 million was signed by Trotman in the 2016 Production Sharing Agreement (PSA), in Annex C of the contract.   I'm sure you have read that contract many many times.

Don't ask him suh hard question. He has to get instructions as to the answers.

Well ah tell yuh,

did you read the post made in reply,think before hitting the send button.

Yes I read it.  This is the Pre-Exploration Drilling cost.  Meaning before you get the oil.  Pre means before.  Post means after.  

Django posted:

alena06 posted:

"The PSA signed by Trotman also ensures that Guyana stands the cost of even the interest added to loans taken by ExxonMobil for the purpose of the operation."

With the constant decline of the Guyana dollar and the uncertainty in the fluctuations in interest rates who knows how much they will end up paying.  And what other costs are there that we have not heard about??

Suh the G$$ will decline when the black gold flows??

There wouldn't have been any bitching,if the PPP were in control,nah suh.

When the G$ gets better please let us know you dunce.

Bibi Haniffa posted:

 

Yes I read it.  This is the Pre-Exploration Drilling cost.  Meaning before you get the oil.  Pre means before.  Post means after.  

Suh... now you comprehend when the $$ was incurred ?

alena06 posted:

Django posted:

alena06 posted:

"The PSA signed by Trotman also ensures that Guyana stands the cost of even the interest added to loans taken by ExxonMobil for the purpose of the operation."

With the constant decline of the Guyana dollar and the uncertainty in the fluctuations in interest rates who knows how much they will end up paying.  And what other costs are there that we have not heard about??

Suh the G$$ will decline when the black gold flows??

There wouldn't have been any bitching,if the PPP were in control,nah suh.

When the G$ gets better please let us know you dunce.

Who you calling dunce..eh..madam..do you feel elated when those words were typed.

Django posted:

Bibi Haniffa posted:

 

Yes I read it.  This is the Pre-Exploration Drilling cost.  Meaning before you get the oil.  Pre means before.  Post means after.  

Suh... now you comprehend when the $$ was incurred ?

Me nah able.  Me give up.  Alena try and explain to am deh please.

Bibi Haniffa posted:

Django posted:

alena06 posted:

"The PSA signed by Trotman also ensures that Guyana stands the cost of even the interest added to loans taken by ExxonMobil for the purpose of the operation."

With the constant decline of the Guyana dollar and the uncertainty in the fluctuations in interest rates who knows how much they will end up paying.  And what other costs are there that we have not heard about??

Suh the G$$ will decline when the black gold flows??

There wouldn't have been any bitching,if the PPP were in control,nah suh.

Django you talking to a girl with over 25 years of banking experience with three big banks from 3 different countries.  She know wan wan ting about monetary policy.  Don't misconstrue what she is trying to say.

Bibi,

well she doesn't seems too smart,also I am aware is your kin.

Let her give an out look on Guyana $$ when the black gold start flowing.

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

 

Yes I read it.  This is the Pre-Exploration Drilling cost.  Meaning before you get the oil.  Pre means before.  Post means after.  

Suh... now you comprehend when the $$ was incurred ?

Me nah able.  Me give up.  Alena try and explain to am deh please.

"Guyana is now hurrying to put measures in place to monitor and assess cost recovery claims. However, it has already tied itself to the repayment of US $460,237,918M. This is according to the 2016 Production Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman signed with ExxonMobil.

Annex C of the contract speaks to Cost Recovery. The list of items to be included in this aspect is vast.

One of the many expenses that Guyana will have to stand is what is referred to as “pre-contract cost.” The pre-contract cost is referred to in the contract as the “cost incurred by contractor with petroleum cooperation carried out pursuant to the 1999 Petroleum Agreement.”

The PSA said that this sum shall be “included” in the pre-contract cost.  The PSA states that the pre-contract cost “shall include four hundred and sixty million, two hundred and thirty seven hundred thousand and nine hundred and eighteen United States Dollars (USS 460,237,918) in respect of all such costs incurred under the 1999 Petroleum Agreement prior to the year ended 2015,

“and (2) such cost as incurred under the 1999 Petroleum between January 1, 2016 and effective date which shall be provided to the Minister on or before October 3, 2016 and such number agreed on or before April 30, 2017. For purposes of this paragraph, the term pre-contract cost includes contract costs, exploration costs, operating costs, service costs, and general and administrative costs and annual overhead charge as those terms are defined in the 1999 Petroleum agreement.”

Read the above one more time,instead of giving up.

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

 

Yes I read it.  This is the Pre-Exploration Drilling cost.  Meaning before you get the oil.  Pre means before.  Post means after.  

Suh... now you comprehend when the $$ was incurred ?

Me nah able.  Me give up.  Alena try and explain to am deh please.

This is way over the bean counter head.

This is normal. Exxon will want a rapid cost Recovery.  Costs started in 1999 but was a non-issue as long as commercial harvesting was not on the table.  Now that they are ramping up to commercialization, this is (rightly) put on the table.  

Guyana is going through a learning process and should engage experts to help.  Exxon is a pro.  I don’t see what the PPP would have done materially different.

Audit of the costs are appropriate to ensure its valid and fair.  I can see the sticky issue being non-direct corporate allocations. This is always sticky in any contract.  I dealt with this during my career.  In fairness, did the PPP ever asked to see the costs from 1999 - 2015?  The 460 mil includes this costs. Likely not as oil was not yet discovered.  

As Trotman stated, Guyana was in a weak position and Exxon needed incentives to take the bait.  Remember, no oil, Exxon eats all this costs.  Guyana is now way better off going forward with this find. It will no longer be a desperate country catching at any straw.  

Guyanese are so narrow minded, lord help us.  My relatives living in Guyana is taking this is stride.  The diaspora seems more militant, with no skin in the game.  Alyuh just chill lil.  

Bibi Haniffa posted:

Django posted:

Bibi Haniffa posted:

 

Yes I read it.  This is the Pre-Exploration Drilling cost.  Meaning before you get the oil.  Pre means before.  Post means after.  

Suh... now you comprehend when the $$ was incurred ?

Me nah able.  Me give up.  Alena try and explain to am deh please.

No, explain to me babe, you know I will get it!!  You always said I had a high IQ. 

It's getting late one lonely Sunday night,

How can you mend a broken heart.

And it goes like that. Ah Ah ah.

Django posted:

alena06 posted:

"The PSA signed by Trotman also ensures that Guyana stands the cost of even the interest added to loans taken by ExxonMobil for the purpose of the operation."

With the constant decline of the Guyana dollar and the uncertainty in the fluctuations in interest rates who knows how much they will end up paying.  And what other costs are there that we have not heard about??

Suh the G$$ will decline when the black gold flows??

There wouldn't have been any bitching,if the PPP were in control,nah suh.

I don’t think it will decline if USD flows into the treasury. Appreciation might be seen but slow as the currency has been debased to these levels. 

The GOG might want to consider a new currency, reverse split say 20/1 to reduce the Huge piles of cash one needs to cart around.  But this is just window dressing!

kp posted:

It's getting late one lonely Sunday night,

How can you mend a broken heart.

And it goes like that. Ah Ah ah.

Suck me ....you old fag!!

Baseman posted:

kp posted:

It's getting late one lonely Sunday night,

How can you mend a broken heart.

And it goes like that. Ah Ah ah.

Suck me ....you old fag!!

A drowning man/fag clutches to straw. It's lonely being you.

While the $460M covers cost from 1999 to 2015, was it agreed upon in the 1999 agreement that Guyana would be responsible for that cost sharing or was it agreed to in 2016 when the agreement was revised?

ksazma posted:

While the $460M covers cost from 1999 to 2015, was it agreed upon in the 1999 agreement that Guyana would be responsible for that cost sharing or was it agreed to in 2016 when the agreement was revised?

It normal to add this now, that oil is discovered. We can expect year to year variations of capital expenditures.